Oil Price Could Reach $US100

The Australian – THE head of the International Energy Agency (IEA) says the price of oil could rise above $US100 a barrel from just over $US70 now. Claude Mandil, who is about to visit Australia for a major oil conference, told The Australian Financial Review factors now pushing prices to near record levels were unlikely […]

Hybrids May Seem Like Cure for High Gas Prices, But Savings are Hard to Find

Centre Daily Times – But right now the question for us ordinary folk is: How do we adjust to these prices? Time to buy a super-fuel-efficient car — a gas-electric hybrid, perhaps? Probably not.Centre Daily Times

As Profits Surge, Oil Giants Find Hurdles Abroad

To many Americans, oil companies like Exxon Mobil or Chevron appear all powerful, pocketing record profits as energy costs soar. But in many countries around the world, high oil prices are also making life considerably harder for big oil companies. Sharply higher energy prices have shifted the power to oil-producing countries, as some governments seek […]

An Opportunity on Oil

Don’t bite the invisible hand. AFUNNY THING happened while policymakers hemmed and hawed about an energy policy: Price signals created one. The current oil spike may have an effect similar to the last one in the late 1970s and early 1980s, which drove a two-thirds gain in U.S. vehicle efficiency and huge advances in energy […]

Oil markets at risk from terror hit: experts

PARIS (AFP) – With oil prices already stretched to record highs, a terrorist attack targeting vital oil installations would have immediate global consequences, experts say. Wells, pipelines, refineries and tankers have all been targeted in recent years by Al-Qaeda-linked groups, or by local armed militants such as in the Niger Delta — and many remain […]

Federal Recipe for Gasoline Helped Drive Up the Price

WASHINGTON On Friday, the 270th day after President Bush signed the Energy Policy Act of 2005, the law ended the requirement that gasoline sold in areas prone to air pollution include an “oxygenate,” or a molecule including hydrogen, carbon and oxygen. A result is that refiners over most of the country’s big gasoline markets, anticipating […]

Unnatural disaster

BOLIVIAN PRESIDENT EVO MORALES put his head in an oven this week and turned on the natural gas. There are only two likely outcomes: an explosion that ends his political career The problem with Bolivia is that it isn’t Venezuela. The latter country has gotten away with energy nationalization because it wields a lot of […]

How Morales took on the oil giants – and won his people back

Stand-off after Ch For Palmasola, a Brazilian-owned refinery 15 miles west of Santa Cruz de la Sierra, the most prosperous city in Latin America’s poorest nation, was at the centre of an international storm this week that saw the country nationalise in all but name its foreign-owned gas and oil industry, pitting neighbouring countries against […]

Conference speakers will ponder question: How do we fuel the future?

TEXAS – As energy prices have risen and supplies tightened, the debate over whether or not the world is running out of oil has heated up, accompanied by the question: How will we fuel our future? That is the question that will be discussed Thursday, May 11 at the Midland County Multi-Purpose Building, better known […]

The next casualty of the oil depletion age: state universities

It is an unfortunate fact for canaries, at least, that these birds are particularly susceptible to methane and carbon dioxide. For that reason coal miners used to bring them down into the mines as an early warming system for monitoring the air. When exposed to even small amounts of these noxious gases, the canaries would […]

Summary of Petro Collapse II conference in DC

Earlier today about 100 concerned citizens gathered at All Souls Unitarian Church in Washington, DC for the second Petrocollapse Conference on surviving in a world with declining fossil fuel resources. The event was sponsored by Jan Lundberg’s organization, CultureChange.org, he of the Lundberg Oil Survey Letter family, although not involved with that publication since the […]

Why Prices at the Pump May Have Little Bite

As the summer driving season approaches, gas prices have been soaring These data point to the enormous resilience of the consumer. But they also bring into focus a truism lost in the miasma of media coverage and political rhetoric surrounding energy: while the price of gasoline may be highly visible and symbolic, filling up the […]

Why Iran Is Driving Oil Up

Of course, what you’re really looking at is oil money that’s been turned into the kinds of goods that keep people happy, or quiet, or both. While cutting back controls on imports, Tehran has jacked up salaries, pumped up pensions and doled out extra benefits from charities like the Imam Khomeini foundation. For Iran’s body […]

Ethanol prices highest in 9 years

Ethanol prices rose this week to the highest level in at least nine years amid increased demand for the grain-based fuel from refiners and blenders before the start of the peak driving months. Ethanol is being phased in as a component in reformulated gasoline sold in large U.S. cities. The process has contributed to some […]

Gov’t Urged to Nationalize Oil to Solve Crisis

Experts urged the government to scrap the oil deregulation law and nationalize the oil industry to solve the oil crisis in the country, instead of merely paying “lip service” to the development and propagation of alternatives energy sources and resorting to “political solutions.” Carmelito Tatlonghari, a climate change expert and former Energy Program Manager of […]

US, Europe Push for Gas Pipeline Alternative to Russian

The conflict between the West and Moscow bears a growing resemblance to the Cold War period. The competition most obviously emerges in the field of energy. The United States (US) and the European Union (EU) have added to their efforts to by-pass Russia to deliver energy resources to Central Asia and the Caucasus through Turkey […]

Global concern for secure energy topping agendas

Unrest in Africa. Mideast insurgency and terrorism. Iran’s nuclear brinkmanship. Russian political pressure. South American resource nationalism. Piece by piece, the global energy puzzle reveals a bleak horizon for a world frantically searching for secure oil and gas supplies. Worse may lie ahead, as the world’s hunger for energy grows, the tussle for oil and […]

ADB plans fund to promote clean energy

Keeping in mind shortage in carbon credits and increasing demand for them, the Asian Development Bank has decided to set up a fund this year that will support initiatives in developing countries to produce clean energy and, in turn, carbon credits. The Carbon Market Initiative (CMI), which is in `consultation phase’, is expected to get […]

Investors to attack Shell over environment

A strongly worded shareholder resolution calls for ‘a major improvement in Shell’s performance in terms of community and stakeholder consultation, risk analysis, and social and environmental impact analysis’. And the oil and gas company is facing a double whammy over its performance: an EU-funded project, Advance, has assessed the environmental performance of 65 European manufacturers […]

Australian Oil Industry Needs to Add Reserves, Report Finds

Australia’s A$24 billion oil and gas industry needs to add 120 million barrels of crude oil reserves every year to maintain the nation’s rate of production, the country’s petroleum industry body said. The industry must increase offshore exploration drilling by 67 percent to 75 wells a year if those reserves are to come from new […]

Africa: The New Frontier for Imperial Oil

Over the last five years, Africa has contributed one in every four barrels of new oil discovered outside of Northern America. A new scramble for Africa is afoot. The battleground is the continent’s oilfields – the looting of what the Times calls Africa’s “copious reserves of natural gas and its sweet light oil.” Energy security […]

Let’s Not Play The Oil Game

No doubt it’s a sign of the times. Today’s war games have more to do with the falling supplies and rising price of oil than with tanks and armored personnel carriers rolling across borders. Consider just such an exercise, conducted several months ago at the World Economic Forum in Davos. The setting was late December […]

Twilight in the Desert: Is World at Peak Oil?

Odessa American – What if itOdessa American Online

Brazil Unveils Uranium Enrichment Center

RIO DE JANEIRO, Brazil (AP) – Brazil has inaugurated a uranium enrichment center capable of producing nuclear fuel for the South American country’s power plants. Brazil’s enrichment center will save millions of dollars the country now spends to enrich fuel at Urenco, the European enrichment consortium, Science and Technology Minister Sergio Rezende told the government […]

Who Has to Conserve How Much? – The Oil Drum

In influential posts over at Graphoilogy, Khebab and WesTexas argued that the four largest oil exporters were more than half way through their eventual production, and that since their internal consumption was bound to increase, therefore the amount of oil available for export was certain to plummet. WesTexas has been making increasingly dire warnings about […]

Chavez Wants Vote on Governing Until ‘31

Houston Chronicle – President Hugo Chavez said Saturday that Venezuelan voters should have the chance to decide whether he should govern the country for the next 25 years. Speaking at a stadium packed with supporters in central Lara state, Chavez said he would hold a referendum to put the question of his remaining in office […]

Delhi swelters amid power crisis

The Delhi government’s minister for power, Harun Yusuf, says new guidelines are being drafted to save electricity. Temperatures have soared recently and Delhi has experienced major power cuts, leading to protests in several areas. Under the new rules, government offices must switch off air-conditioners after 1830 and shopping malls across the city will have to […]

Peak Oil And Darwinism: The New Denial Industry

Deliberate confusion and disinformation have, as ever, taken the driver’s seat in a non-debate now dominated by slogan trading. Today in Spring 2006 we are sliding into a genuine Oil Shock, even admitted by our admired and respected democratic leaders in the shape of emergency G7 Finance minister meetings, and the upcoming Summer Energy Security […]

Conflicting Loyalties as Republicans Confront High Gas Prices

WASHINGTON In another sign, House Republicans moved to slap oil companies with one hand while trying to help them with the other. Voting 389 to 34, the House approved steep new penalties for oil companies convicted of “price gouging,” a crowd-pleasing but largely symbolic measure. Republicans then tried but failed to rush through a bill […]

An energy crisis of our own making

by Senator Susan Collins MAINE – Record gasoline prices, heating oil so high that families cannot afford to heat their homes, and the highest natural gas prices in the world point to one inescapable conclusion: America is suffering an energy crisis. The unfortunate truth is that this crisis was not only predictable but also largely […]

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